India targets USD 100 billion in gems and jewellery exports by 2040

India has outlined a strategic roadmap to increase its gems and jewellery exports to USD 100 billion by 2040, a significant rise from the projected USD 28 billion in 2025-26. The plan, presented at the Chintan Shivir summit, aims to transition the industry from low-margin manufacturing toward high-value areas such as original design, branded products, and international trading.

To support this growth, the government will implement a 15-year income-tax exemption starting October 1, 2026, for eligible foreign companies trading rough diamonds through Special Notified Zones. This initiative is designed to attract international rough diamond trading and strengthen India’s position in the upstream and downstream segments of the supply chain.

Union Home Minister Amit Shah has also called for Indian dominance in the lab-grown diamond (LGD) sector. He urged industry leaders to secure the entire LGD ecosystem—from machinery production to global retail showrooms—to capitalize on a market projected to expand significantly in volume. The government's strategy includes five priority missions: global market access, MSME scale-up, streamlined export-import processes, the ‘Crafted by India’ initiative, and developing next-generation design talent.